We are pleased to introduce our new interim board members:

1. Matt Schaffnit
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2. Michael Steuer
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3. Pascal Schmid
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This interim board will serve for an initial term of one year, during which they will focus on implementing key changes to strengthen our network and community.

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The interim board is committed to realizing Casper's potential as a community-led blockchain. Their vision includes:

1. Enhanced community engagement: Establishing public forums where all stakeholders can provide feedback and vote on proposals affecting the protocol and network. The Casper community forum at forum.casper.network is now live with multiple proposal discussions ongoing.
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2. Collaborative development: Continue and expand working groups for validators, DeFi developers, and other key stakeholders to meet regularly and shape the future of Casper. For instance, the next DeFi working group is scheduled for next week Tuesday October 15, 2024, and will then happen on a monthly cadence, as will Validator calls and X Spaces for the general public.
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3. Transparent governance: Laying the groundwork for a transition to a community-elected board, ensuring that Casper's future direction is determined by its users.‍
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4. Technical advancements: Focusing on protocol improvements and ecosystem support to make Casper an increasingly attractive platform for both cutting edge and mass-market crypto applications.

During their tenure, the interim board will focus on:

1. Overseeing the transition to a community-led governance model, with a Board elected annually via a General Assembly.
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2. Establishing an active General Assembly (GA) membership process, opening participation to Casper mainnet validators, qualifying testnet validators, and developers of relevant applications on the mainnet.
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3. Implementing technical upgrades to support the network's growth and prepare for future governance structures, including an on-chain voting mechanism based on delegated proof of stake.
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4. Ensuring the Casper Association continues to meet its legal, regulatory and organizational responsibilities while adapting to a truly decentralized future.
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This is a pivotal transition for Casper. The aim is to create the conditions for a transformation to realize the potential of decentralization. While the interim board will focus on immediate improvements and laying the groundwork for future governance, they remain committed to keeping the community informed and involved every step of the way.

We want to make sure that these changes position Casper for long-term success as a leading blockchain platform, driven by the needs and vision of its community.

We thank you for your continued support and trust, and we look forward to building Casper’s new future together.

Best regards,

Patrick Storchenegger, Chairman of the Board, on behalf of the current Casper Association Board

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Q1: When will the new interim board take over?

The new interim board will replace the existing board no later than December 1st, 2024.

Q2: Who are the members of the interim board?

The interim board will comprise Matt Schaffnit, Michael Steuer, and Pascal Schmid.

Q3: What happens to the operational setup?

Operational structures, roles & responsibilities will  remain in place within Casper Association until further notice.

Q4: How long will the interim board serve?

The interim board will have an initial term of one year, but has the ability to call for early elections.

Q5: Can the interim board members be re-elected?

The interim board members will be eligible for re-election as long as the stated objectives are met. The specific objectives that need to be met for re-election eligibility are:

1. expand the GA to include community stakeholders: Casper mainnet validators, qualifying testnet validators, and developers of relevant applications on the mainnet.

2. establish an on-chain voting mechanism based on delegated proof of stake.

3. make the organizational and legal changes required to have a Delegated Assembly Member (DAM) elected on the Casper Association board who is bound to vote as per the Mainnet Validators’ on-chain decisions.

Q6: What is the General Assembly?

The General Assembly is the body of Casper Association members who have voting rights in future board elections and potentially other governance matters, as per the Swiss law regulating Swiss Associations.

Q7: Who can be a member of the General Assembly?

Membership of the General Assembly will be open to: a) All Casper Mainnet Validators b) Certain Testnet Validators (criteria to be determined) c) Certain developers of apps on mainnet, meeting relevance criteria (e.g., minimum users/transactions/TVL/etc.). Definite criteria will be communicated by the interim board as part of their transition duties, and in consultation with the community via public forums.

Q8: How will public feedback be incorporated into governance?

Public forums will be established immediately where community stakeholders can provide feedback on proposals affecting the protocol and the network.

Q9: What are Working Groups and how will they function?

Working groups (e.g., for Validators, DeFi developers) will be established to meet regularly on a recurring basis to collaborate on relevant issues. These meetings will be recorded and published for the community, pending approval from participants. Written debriefs will be published every time for the community.

Q10: How will the governance structure change in a year from now?

No later than December 1st, 2025, a new board will be elected by the General Assembly for the next one-year term. This board will have an odd number of members, with one member elected as the Delegated Assembly Member (DAM).

Q11: What is the role of the Delegated Assembly Member (DAM)?

The DAM has special voting powers in the Casper Association Board specifically for on-chain proposals. For on-chain proposals only, they have outsized voting power and can determine the outcome of the board decision unilaterally, but are legally obligated to vote according to the majority vote held on-chain.

Q12: How will on-chain voting work?

An on-chain mechanism will be implemented where Mainnet Validators can vote on relevant proposals on behalf of their delegators.

1. There will be a publicly available list of types of proposals that have to be held on-chain, such as approving the annual budget, grants over a certain amount, etc.
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2. Each proposal will be open for a certain number of working days.
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3. During that period, validators can express their vote as early or as late as they want.
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4. Validator votes on each proposal will be clearly visible on CSPR.live or another designated destination.
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5. Delegators can engage with their validators to find out their voting intention, and influence it if the validator decides to take their input.
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6. After validators have expressed their vote, delegators will still have a window of several days to redelegate their stake to another validator, if they believe the current validator doesn’t best represent their interests.
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7. When the vote closes, the outcome is determined by the relative stake represented by each validator’s vote, and the DAM will be bound to represent that outcome in Board votes.
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Q13: Will delegators have any say in the voting process?

Yes, delegators can engage with their validators to influence their voting intention. They will also have a window of several days after a validator has expressed their vote to redelegate their stake to another validator if they disagree with their validator’s vote.

Q14: What types of proposals can the board vote on?

The board can vote on two types of proposals: a) On-Chain Proposals: Where the DAM has outsized voting power. b) Off-Chain Proposals: Where each Board Member, including the DAM, has 1 vote each.

Q15: What kinds of proposals must be voted on-chain?

The interim board will release a publicly available list of types of proposals that have to be held on-chain, such as approving the annual budget, grants over a certain amount, etc.

Q16: How are board candidates nominated and selected?

The General Assembly (GA) is the body of Casper Association members who have voting rights in future board elections. The GA will be involved in the process for nominating and selecting board candidates.

Q17: Will validators have equal voting power, or will it be proportional to their stake?

For on-chain proposals, validators will have voting power proportional to their stake. As such, delegators ultimately decide the weight of each validator’s vote.

Q18: How does the on-chain voting mechanism relate to the General Assembly (GA) voting?

As per Swiss law, the GA of a Swiss Association can only vote on only specific items such as election/discharge of board members, approval of financial reports, election of auditors, etc.. The on-chain voting mechanism will be completely independent from the GA and will relate to business and technology matters. The interim board will release a publicly available list of types of proposals that have to be held on-chain, after consultation with the community.

Q19: What happens if the interim board achieves its objectives before the end of its initial one-year term?

The interim board may vote to call for early elections (earlier than its tenure of 12 months) and will be eligible for re-election in the GA.

Q20: What is the Casper Association's role in this new governance structure?

The Casper Association will continue to serve as the legal and organizational structure for the Casper project, handling aspects such as vendor relations and regulatory requirements.

Q21: Where can I find more information about these governance changes?

Community members can find more details, updates, or ask further questions here: https://forum.casper.network/.

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